The development will take place on a former RAF base

Zorin closes £25m loan on former RAF base development



Zorin Finance has closed a loan secured on a residential development on the site of a former RAF base in the South Hams area of Devon.


The development consists of 98 homes built over seven phases, comprising of 68 private and 30 affordable units plus community facilities, commercial units and nine fully serviced 'self-build' plots together with the transfer of a parcel of land to the Community Land Trust for the delivery of 18 further units.

All units are set to include gardens to the front and rear and at least one allocated parking space or a garage.

The development will also have communal facilities, including a children's play area, community allotments, walking trails and a car park.

The commercial element, which is located at the entrance of the site, will comprise a range of uses such as a local shop and a café unit.

The scheme has been restricted to primary occupancy and 46% of the scheme will be designated as affordable housing.

Richard Gosden, partner and head of risk at Zorin, said:  “Zorin is extremely pleased to be able to support this new Borrower to Zorin on a development in the Southwest.

“This project will bring much needed housing at affordable prices to the local population with restrictions on occupation and in turn breathe new life into a disused brownfield site and Zorin is proud to be part of this venture.”

 



Leave a comment